STL Networks Ltd.'s shares climbed nearly 5% in early trade on Wednesday after the company emerged as the L1 bidder for a Rs 249.8 crore contract from RailTel Corporation of India Ltd.
The stock is currently trading at Rs 51.58 apiece on the NSE, up around 4.3% from its previous close at Rs 49.46. Having said that, the stock opened at Rs 51.93 today, gaining around 5% at the market open. Meanwhile, the benchmark, Nifty 50, gained only 0.1% to trade at the 22,741.9 level.
STL Networks L1 Bidder For RailTel Contract
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According to the company's regulatory filing dated Sept. 29, STL Networks emerged as the L1 bidder for RailTel Corporation of India.
The contract involves the design, supply, installation, testing, commissioning, configuration, integration, migration, and deployment of a cloud infrastructure solution at RailTel's data centre and disaster recovery site.
The broad consideration or size of this domestic contract is around Rs 249.8 crore, inclusive of all taxes, as stated by the company.
The development comes as a business update for STL Networks, with the company securing the L1 position for a sizeable cloud infrastructure project. However, the disclosure specifically describes STL Networks as the L1 bidder, rather than stating that the final contract has been awarded.
STL Networks Share Price Movement
The stock has rallied close to 82% in the past month alone, in contrast to the broader market performance, where the benchmark, Nifty 50, has declined nearly 6% during the same period.
In 2026 so far, the stock has delivered a return of around 128% and is currently trading with a market cap of Rs 2,506.4 crore.
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